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COVID-19 Issues And Keeping Up During A Pandemic

| Categories: Accounting Services , COVID-19 , Financial Statements , Tax Accountants

CPA Long Island

One of the challenges with running a business or working independently is that people have to file their taxes. There are a lot of challenges when it comes to getting through taxation, and with a large number of people not getting it done themselves, they end up working with an accountant who would assist them with finding the right amount that they would have to pay so that they would not go to jail. While the Government works on convincing people to get through their taxation themselves, there are some challenges that they have to get through. Additionally, people who do not handle the process themselves could end up paying fines and penalties if they do not pay the right amount at the end of the tax year.

When it comes to taxation, there are different rules for companies and individuals. Additionally, companies can save some of the money they receive, if they understand the system and work accordingly. There are a few other changes that they have to get through if they are trying to save. Some certain items and investments could reduce the load they were paying in tax which would translate into savings. Similar rules applied to individuals and understanding how to navigate through the process or working with an accountant to assist with the process or share their wisdom was the best way forward.

Globally, there were a lot of changes that were taking place because of the Coronavirus pandemic. Additionally, when it came to the virus, some changes were being made to the taxation rules and the deadlines, which were positive sometimes and were quite challenging to get through at other points in time. If we predict the changes that we would see in the coming months, we already see the rules and the restrictions changing. Companies and businesses are opening up, and they are working with the public again. Businesses are slowly moving back to normal conditions. While we hope that changes take place a lot faster, they are currently moving at a snail’s pace. We would encourage people to go back to basics and continue working with the things that have been successful for them. The Government is trying to provide funds to help, and we suggest that people should apply for all that are available to them to reap the benefits because they help people get through.

Most companies were not allowed to handle a lot of their work in person, which was quite challenging because many were unsure about opening their doors because they worked on projects usually done in person. We had to change and match the new system as well, and we started getting a lot done remotely. We are using email and mail in most cases. We are open Monday through Friday but try to limit in-person activity. Some people drop off their tax info, but they do not stick around for long. Overall, we spend more time explaining and talking to our clients on the phone more than them coming to the office.

Another change that we had to get through was the way that we were communicating with one another. Pre-pandemic, we would walk to their office and get in touch with the team and explain what we were looking for in-person, but we could no longer do that. We were now communicating with our internal teams and clients through email, mail, telephone and zoom, which were very useful in our company through the pandemic.

While we were making changes to our functioning in the past, we do not meet regularly, but we do have some time during which we meet and coordinate as a team, following the rules and restrictions. We have to be on the same page if we are planning on getting this done. We are still adjusting to remote working, which is quite challenging especially when we have to explain to our clients how they should be sending us their information online instead of meeting us. We were missing the opportunity to communicate with our clients and see them face to face. We always found it a lot easier to coordinate some of the work in person because it was easier to explain when you are sitting alongside a client, especially if there is something that they are finding significantly challenging.

Furthermore, we limit the activity within the office to reduce the spread of the virus. We make sure anyone coming into the office is following the rules that we have in place. They have to wear masks and maintain social distance mandatorily. We try to be flexible with the rules and are working on keeping everyone safe and comfortable. Additionally, we work with a cleaning company, so we have the place always clean and sanitized. We do not want to be a threat to our clients nor our staff. Additionally, everyone should be careful when they are getting through processes.

While we were struggling and implementing so many changes, there were a few things that we maintained constant. We were not trying to create a more complicated process but to assist the people we work with to get through the same with ease. When it comes to working timings, we are a lot more flexible now than we were in the past. We are here Monday through Friday from 9 am to 6 or 7 pm, depending on the workload. WE work a shorter day on Saturday, from 9 am to 5 pm, but we are always by the telephone and people can get in touch with us, anytime.

Working in the accounting and bookkeeping business, we were always aware of the confidentiality that comes with it and had safeguards in our firm to protect our clients. Fraud is rampant in the world, and we were using good software and secure passwords. Furthermore, our IT department is up to date with the latest technology, so we are sure that the information we pass through is safe.

When we are not meeting our clients in person, which is more often than now, we handle zoom calls whenever necessary. Zoom has become our new favorite software to use because it provides the opportunity to interact with others as if they are in the same room while being so convenient. The pandemic was challenging, and we are trying to maintain our sanity by getting as much done as possible and staying normal.

If you are looking for assistance with accounting or tax services, look no further than Michael J. Berger and Co., CPA’s LLP. We assist small to medium-sized businesses and are in this line for some time now, so have a pretty decent understanding of how it works. I run an accounting and CPA Firm in Long Island, NY, That You Can Trust, and work with clients across New York Counties of Brooklyn, Queens, Staten Island, and Westchester County. While we work on a lot of their tax, there is a list of services that we assist with. If you want to get a better understanding of the services that we provide, please click here. If you want to get in touch with us, please click here